XAG/USD prices continue to move within the framework of a correction development and triangle model formation. At the time of this forecast’s publication, Silver price stands at 33.23. Moving averages indicate an uptrend. Prices have breached the zone between signal lines upwards, suggesting buying pressure and potential continuation of the cost increase from current levels. Currently, it is expected to see a bearish correction development in the metal’s value and testing the support level near the area around 32.75. From where we can expect an upward bounce in price and continued growth in Silver prices towards a target above the 34.35 level.
Silver Forecast XAG/USD for May 29, 2025
Additional signals in favor of an increase in prices and the silver XAG/USD quotes would be a test of the support line on the relative strength indicator (RSI). A rebound from the lower boundary of the bullish channel would serve as a second signal for a decrease. Confirmation that there will not be price rise of silver by May 29, 2025, would come with a drop below 32.45. This indicates breaking through the support area and continuing the decline into the region below level 30.45. Expect acceleration in XAG/USD quotes to occur upon the resistance area above 33.75, indicating a breakout through the upper boundary of the “Triangle” model and beginning the implementation of a pattern with upward targets.
Silver Forecast XAG/USD for May 29, 2025 predicts a test of the support area near the level of 32.75. Subsequently, an increase in price quotes towards a goal above the level of 34.35. The rise in silver prices scenario will be cancelled by a drop and breach of the level at 32.45. This would indicate a breakthrough the support area. In this case, it is expected that silver’s price would continue to decrease with a target at the level of 30.45.
